NetworkNewsBreaks – Excellon Resources Inc. (TSX
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Posted On: 02/16/2021 3:04:40 PM
NetworkNewsBreaks – Excellon Resources Inc. (TSX: EXN) (NYSE American: EXN) (FSE: E4X2) Issues Operational Update
Excellon Resources (TSX: EXN) (NYSE American: EXN) (FSE: E4X2) today announced that the impact of the ongoing polar vortex in the American southwest is likely to increase operational costs during the first quarter of 2021. According to the update, the company’s current energy contract is backed by natural gas. Weather conditions in the southwest United States have impacted natural gas production and transport, leading to record high prices since Friday, Feb. 12, with unit costs increasing from US$3.00 to over US$300 per mmBtu. The temporary increase in prices is expected to be short term and impacts energy costs at the Platosa Mine. Excellon Resources is seeking alternative, lower-cost options in cooperation with its energy provider, but may not be able to confirm such alternatives in an effective timeframe. The company expects to return to normal pricing over the coming days as weather patterns normalize.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Excellon Resources (TSX: EXN) (NYSE American: EXN) (FSE: E4X2) today announced that the impact of the ongoing polar vortex in the American southwest is likely to increase operational costs during the first quarter of 2021. According to the update, the company’s current energy contract is backed by natural gas. Weather conditions in the southwest United States have impacted natural gas production and transport, leading to record high prices since Friday, Feb. 12, with unit costs increasing from US$3.00 to over US$300 per mmBtu. The temporary increase in prices is expected to be short term and impacts energy costs at the Platosa Mine. Excellon Resources is seeking alternative, lower-cost options in cooperation with its energy provider, but may not be able to confirm such alternatives in an effective timeframe. The company expects to return to normal pricing over the coming days as weather patterns normalize.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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